FinCard

The application programming interface (API) has been a key part of software development for decades as a way to develop for a specific platform.

More recently, newer platform providers, from Salesforce to Facebook and Google, have offered APIs that help the developer and have, in effect, created a developer dependency on these platforms.

Now, a new breed of third-party APIs are offering capabilities that free developers from lock-in to any particular platform and allow them to more efficiently bring their applications to market.

Chris Skinner

one of the TOP5 fintech-influencers and predictors, author of bestsellers “Digital Bank” and “Value Web”,managing partner of the BB Fund in London

You’re probably all familiar with SaaS – it’s basically paying for applications as you use them, rather than buying them. These services used to cost you a fortune, but are now free or near enough. That’s where banking is going. Banking becomes plug and play apps you stitch together to suit your business or lifestyle. There’s no logical reason why Banking shouldn’t be delivered as SaaS.

This is the future bank, and old banks will need to reconsider their services to compete with this zero margin model.

...anyone in the near future would be able to build their own bank through apps, APIs and analytics.